# The Occupational and Personal Pension Schemes (Prescribed Bodies) Regulations 2012, Paragraph 7


In the Occupational Pension Schemes (Employer Debt) Regulations 2005—
(a) in regulation 2 (interpretation)—
(i) in paragraph (1), omit the definition of “the Board for Actuarial Standards”; and
(ii) for paragraph (3) substitute—
“(3) References in these Regulations to FRC standards are to actuarial standards on winding up and scheme asset deficiency adopted or prepared, and from time to time revised, by the Financial Reporting Council Limited.”;
(b) in regulation 5(17) (calculation of the amount of scheme liabilities and value of scheme assets), for “BAS standards” substitute “FRC standards”;
(c) in regulation 6(8) (multi-employer schemes: general), for “BAS standards” substitute “FRC standards”; and
(d) in Schedules 1 (actuary’s certificate of total difference between scheme assets and liabilities and liability share debt of employer in a multi-employer scheme) and 1D (actuary’s certificate for amount B under a withdrawal arrangement or an approved withdrawal arrangement in a multi-employer scheme), for “BAS standards” substitute “FRC standards”.

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Source: https://www.legislation.gov.uk/uksi/2012/1817/schedule/paragraph/7 (the official version)
Page: https://openlegislation.uk/occupational-and-personal-pension-schemes-prescribed-bodies-regulations-2012/schedule/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.